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0%profit
08 Mar 13 11:44
Joined:
Date Joined: 20 Aug 06
| Topic/replies: 893 | Blogger: 0%profit's blog
Dear Mr Powell,

The 2 accounts (xxxxxx and xxxxxxxx) have been under investigation of Premium Charge evasion due to the inconsistent nature of betting activity conducted across the accounts. Specifically, it is clear that the activity conducted across the accounts is the distribution of a single betting strategy.

In respect of the Premium Charge we provide an allowance against the first £1,000 of charges that would otherwise be incurred by any customer and also exempt customers who have not bet in more than 250 markets. Additionally, higher rates of Premium Charge may apply when a customer’s lifetime net profits exceed £250,000. It is plainly unrealistic to expect to distribute activity across more than one account to benefit from an allowance per account and/or continual exemptions by ensuring less than 250 markets are bet on via each account; or to ensure that the lifetime net profit remains below the threshold above which higher rates may apply.

To that extent, from this week onwards, all accounts listed will be linked for the purposes of calculating the Premium Charge.  This will ensure that the full betting history of this single entity will be reflected going forward. To the latest week, 687, (03rd March 2013) no Premium Charge has been underpaid and thus no adjustment has been necessary on your account. I trust this makes our position perfectly clear.

Yours sincerely,

Betfair Pricing



________________________________________________________________________
In order to protect our email recipients, Betfair Group use SkyScan from

had a lengthy talk with betfair about this email no grounds to appeal and even if i did would probably close my account.thought about going to ibas but again would probably close my account.CryCry

thing is my wife and i opened our accounts many years before premium rate was introduced and while we were losing was okay by befair.even though we have all same personal details except names obviously.

we i think are being told we can see into the future and knew  premium rate charge would come into effectLaughLaughWink

just does not seem right that they can make this decision without any consoltation or any appeal its like it or lump it imoAngry

thanks for the advice m8 the other night have started to trial itWink
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Report Do wah Diddy March 8, 2013 12:06 PM GMT
CAN PAY ^
Report Brother Mouzone March 8, 2013 12:08 PM GMT
Betfair reckon your wife doesn't rly gamble, sexist innit.
Report katverrat March 8, 2013 12:21 PM GMT
while no defender of the PC, you have been found flouting their rules - (before the avalanche of how wrong their rules are, its up to you if you use their site or not - if you dont like it .... walk)  or are you claiming you never use your wifes' account?

unless both accounts come under PC, then linking them is preferable to losing the non PC account
Report salmon spray March 8, 2013 1:17 PM GMT
Well it's clearly unfair IF his wife is a gambler. I realise that a lot of people use relatives/friends accounts to try and get round the PC but there must be cases where it is genuinely different people using the same address and even the same computer independently.
Report Biscar Two from a mile back March 8, 2013 1:20 PM GMT
exactly salmon but they suspend the accounts and take the money regardless
Report racingguru March 8, 2013 1:24 PM GMT
Just hope your wife loses to subsidise your wins Wink
Report judorick March 8, 2013 1:30 PM GMT
run a series of bets (like laying favs) that will have a roughly zero positive effect on profit but generate commission

do it on markets you are not normally going to play
Report salmon spray March 8, 2013 1:37 PM GMT
I wonder if they assume two brothers who share a house aren't separate entities. They would need to apply the same rule to them as they do to a husband and wife or I could see all sorts of legal difficulties.
Report katverrat March 8, 2013 1:37 PM GMT
salmon

whilst what you say is possible - and probable in a 'few' cases, it is highly unlikely here

they (BF) are not stupid, and when they talk of 'distribution of a single betting strategy', it makes it even more unlikely

it would be interesting to hear if the Op can claim that he's never used his wifes' account
Report 0%profit March 8, 2013 1:46 PM GMT
to answer a few questions again my wife does like to bet she is infact a betting shop manager she had her account way before premium charge was introduced we discovered betting inrunning about 7 years ago and it worked for us we started making a profit on a regular basis so that is why our betting strategy is the same because it works.my wife was then offered the managers job in her shop which was full time 48hrs per week.she wanted the job so had to stop the betting i/r as it is so time consuming.i have carried on and am still making a profit.just to clarify neither account is due to pay premium rate in the near future it is the fact that betfair have just made this decision with no real evidence.

if my wife had opened an account say last year and it started winning the same way as my account then i could understand them being suspicious.Confused
Report themover March 8, 2013 1:50 PM GMT
get divorced, problem solved and all for £60 (don't forget the pre-nup Laugh)
Report duncan idaho March 8, 2013 1:53 PM GMT
so if her account is currently idle, is there a problem beyond the matter of principle?
Report 0%profit March 8, 2013 1:59 PM GMT
not really we use her account for the family like grand national/cheltenham bets.what they have done is assume so yes it is principle.but what they have done is stuck my wifes profit onto my account so i will reach the 20% p/c sooner and the £25000 mark sooner to pay 40/50 or 60% p/c how is that fairCryCryCryCryCryCryCryCry
Report judorick March 8, 2013 2:03 PM GMT
try purple?
Report Brother Mouzone March 8, 2013 2:06 PM GMT
Mrs 0% digs i/r, purple will be no good to the old girl Sad
Report 0%profit March 8, 2013 2:08 PM GMT
was going to do that had a look yesterday struggle imo but still an option.spoke to a friend who has given me a strategy to keep away from premium charge looks workable but now i feel that i am being dishonest Blushalot of bother for me aswell never thought i would be trying to lose moneyConfusedAngryWhoops
Report 0%profit March 8, 2013 2:16 PM GMT
LaughLaugh
Report duncan idaho March 8, 2013 2:58 PM GMT
we use her account for the family like grand national/cheltenham bets.what they have done is stuck my wifes profit onto my account so i will reach the 20% p/c sooner


but you wouldnt have any profit from grand national/cheltenham bets yet  Mischief....i'm smelling a rat here
Report starfish and coffee March 8, 2013 3:01 PM GMT
Surely there had been previous grand nationals and cheltenhams ?
Report colonel mossy March 8, 2013 3:05 PM GMT
Premium Charge evasion team? They sound like something to do with the bottom inspectors out of VIZ comic. They might be sending them round to Your House to make sure that You and Your Wife have wiped properly.Grin
Report rcing March 8, 2013 3:07 PM GMT
i'm smelling a rat here

is that like glue sniffing duncan Grin
Report duncan idaho March 8, 2013 3:38 PM GMT
starfish, why would they take this action now if the account hasnt been used since last April? the geezer is clearly using both accounts himself...let's be honest, no-one out there has a wife that also punts on here, except for those people who lost £300 when the dog stood on the keyboard and laid the fav large Tongue Out
Report starfish and coffee March 8, 2013 3:45 PM GMT
Mischief
Report 0%profit March 8, 2013 3:49 PM GMT
as i said she use to do i/r along with me had sis home service then Wink but now her account is only used for pre race bets national etc
Report 0%profit March 8, 2013 3:58 PM GMT
my post was really to make you guys aware that betfair has staff constantly monitoring winning accounts to try and get them to leave or onto the p/c asap wonder how much they get paid or are they on commision we have no grounds for appeal and i would guess if i made a real fuss about this they will close my account. was worried about posting just in case
Report 0%profit March 8, 2013 4:00 PM GMT
duncan the last time my wives account was used is grandnatinal 2012 that is the truth my friend
Report Coachbuster March 8, 2013 4:01 PM GMT
The premium charge has been set , we don't like it ,it's not a fair charge tbh but then we don't have to come on here ,BF don't force us .

Therefore why don't you just pay up like the rest of us and stop trying to dodge payment ? Devil
Report katverrat March 8, 2013 4:03 PM GMT
so your post is not about been hard done by, but to say BF are now rigorously chasing accounts that flout their rules
Report duncan idaho March 8, 2013 4:04 PM GMT
ok, 0%profit...only messin really...good luck
Report 0%profit March 8, 2013 4:10 PM GMT
cheers guys will leave it at that then good luck to you allLoveLoveLoveLoveLoveLove
Report DOUBLED March 8, 2013 4:53 PM GMT
By:

hazel
Date Joined: 15 Jun 01
Add contact | Send message
When: 08 Mar 13 12:31
Joined:
Date Joined: 15 Jun 01
| Topic/replies: 428 | Blogger: hazel's blog
I paid £31.34 premium charge at 60% this week. (yes £31 Premium charge on £54 gross profit)

Yet others win thousands each week and pay less than me in total charges.

I don't call that fair or sensible.

Long live laddies


Watch you don't fall into the trap Shocked
Report 0%profit March 8, 2013 5:50 PM GMT
so wrong imoAngryAngryAngryAngryAngry
Report 0%profit March 9, 2013 1:14 PM GMT
hope they have had a look at bet daq today looks like the competition is about to begin yeeeeeeeeehaaaaaaaaaaaaa!!!!LaughLaughLaugh
Report porterline March 9, 2013 3:11 PM GMT
The rules linking of accounts for PC purposes should be transparent and published.It should be published in their rules section of the site to make the process open to scrutiny.
Report MrHunt March 9, 2013 3:54 PM GMT
same address bit obvious innit ffs
Report 0%profit April 4, 2013 10:53 AM BST
hope this helps people understand the sort of people you are up againstDevilDevil
Report 0%profit April 4, 2013 11:01 AM BST
ConfusedConfused
Report luanne April 4, 2013 11:05 AM BST
proof of my wifes joining date which was way before premiumcharge was introducedAngry
Report 0%profit April 4, 2013 1:51 PM BST
CryCry
Report finishingpost April 4, 2013 2:20 PM BST
I don't pay the premium charge yet as I've made approx £700 in 10 years on here, and paid approx 28% commission.  I'd love to make more but I don't kid myself that I'm ever going to become a millionnaire, and nor should anyone else.  Anyone who complains about paying more than 20% commission has after all earned at least £250,000 on here.  Isn't that enough?  How much more do you want, a million? 20 million?  Plus the same for all the others that make up the 0.10% of people on here.  Be real. It can't carry on unchecked.

99.9% people have made nothing like these amounts, and would be happy to change places I'm sure.  Probably about 96% have made losses over these ten years or so, some of them crippling losses I'll bet.

If you were that successful that you could make £250,000 in 10 years from betting, how long do you think your account would last at a bookmakers?  Surely coming away with 40% of your winnings is better than having your account closed?

And yes, there probably are ways that the premium charge can be avoided, but with what end result?  One last small term gain for a handful of already successful people, at the risk of wiping out the exchange as we know it, and forcing Betfair into the hands of a national bookmaker firm.
The site is already looking like one anyway. Surely it rings alarm bells.

Be grateful for what you've got I say.
Report rcing April 4, 2013 2:25 PM BST
£250,000 divided by 10 = £25,000 per year

and you think to tax someone 40% that earns £25,000 per year is ok Crazy
Report Gerbs April 4, 2013 2:39 PM BST
finishingpost     04 Apr 13 14:20 
  I'd love to make more but I don't kid myself that I'm ever going to become a millionnaire, and nor should anyone else.
_____________

a if i cant do it no one can post
Report finishingpost April 4, 2013 2:48 PM BST
rcing

This isn't a job though is it? We aren't producing anything.  We're betting on the result of sports events, against other members of the public. If you want to think about it in terms of wages, imagine this:

All the popluation were to work for one company, but a wage will only be paid to approximately 5% of the workforce, and their pay will come from a tax on the other 95%.

The 5% will be entitled to keep increasing their pay forever by increasing the tax on the others.

How long would such a company last before the 95% got fed up and went to work for someone else?
Report 0%profit April 4, 2013 2:48 PM BST
i work 350+ days a year on here some days 10 hrs have made about £100K profit in 7 years which is about £15k a year soon they want me to pay 40% pc i do love what i am doing and so decided to take it up full time now i am being told to pi-s off and what about the guys who have opened exchanges they will lose all there customers what with this and the same speed pictures becoming available at home but who cares they offered a product that people built their lives around and now betfair are taking it away through greed
Report john92 April 4, 2013 2:48 PM BST
Made £700 in ten years but paid only 28% commission?

You can't bet too often then imo.
Report rcing April 4, 2013 2:55 PM BST
finishing post , not everyone who bets on here do so as a job , for some it is a hobby , past time , leisure activity .

we are all betting , if i bet against you , you will take my money and vice versa , betfair take commission for being the middle man , why should they take more from someone whose judgement/knowledge which they have acquired over many years , is better than someone else  ?
Report loper April 4, 2013 3:00 PM BST
Finishing post's analogy is the most illogical, irrelevant and obscure I've witnessed for some considerable time.
Report 0%profit April 4, 2013 3:05 PM BST
betfair modeled this site to invite people like me on here they gave you a dream which i swallowed and now they are taking it away why would i not be bitter if a firm made me redundant they would pay me a packageWink
Report book April 4, 2013 3:16 PM BST
totally correct 0%
Report finishingpost April 4, 2013 3:29 PM BST
john 92

I bet a lot more now than I used to, but to very small stakes. 28% commission is what I paid this month when I made a decent profit.  Probably in the early years when I bet on the dogs as well, my commission would probably have been double that. I've never kept a record.

loper

I only used the job analogy because rcing compared the PC with income tax. But if the winners on here don't get their money from the losers, where exactly do they get it?

rcing

Yes I agree, that's how Betfair started out.  We bet against each other and BF took a commission on each bet. Brilliant idea. So what went wrong?  Was it really bad management?  I read a post on another forum from an ex BF employee recently who posted that some form of levy HAD to be made, and anyone looking at the stats would have been forced to agree.  If not, why has the other site not taken up the baton and made it successful, long before now?
I'm not on the inside but it seems a lot of the issue is down to advertising.  To maintain a flow of new 'losers' to replace the disillusioned ones takes a lot of money in advertising.

Gerbs

I don't understand your last post.
Report loper April 4, 2013 3:38 PM BST
finishingpost,

perhaps a better analogy would be the catering industry.

90% of catering outlets fail. That shouldn't mean that the 10% who are successful should contribute to a parachute fund for their failed rivals.

Others come along to take the place of those that fail.
Report 0%profit April 4, 2013 3:38 PM BST
Tongue Out
Report Gerbs April 4, 2013 3:40 PM BST
finishingpost     04 Apr 13 14:20 
  I'd love to make more but I don't kid myself that I'm ever going to become a millionnaire, and nor should anyone else.
_____________

you are saying that because you cannot do it, no on else can
Report rcing April 4, 2013 3:41 PM BST
This isn't a job though is it? We aren't producing anything.  We're betting on the result of sports events, against other members of the public

could you say the same about the stock exchange ?
Report book April 4, 2013 3:52 PM BST
this is winning money,you call a job or not shouldent give people the right to take silly amounts of money off you for using their site & winning fairly.
Report finishingpost April 4, 2013 3:52 PM BST
Gerbs

No I'm not.  I'm saying I'm not kidding myself that I'll make a million on here, and I don't believe anyone else should (kid themselves). I wish everyone all the success they can get, but if you do make a million, I can't see how you can think it will be without some form of levy.

rcing

No not really, as their are real companies underlying the gambling that goes on.
Report finishingpost April 4, 2013 4:01 PM BST
Doh..

Typo in my last post. Their for there. The shame!

loper

I think that's the point though.  There aren't enough new people coming to the exchange.  And if that was because of the PC (which I very much doubt) why doesn't everyone flock to the other site, where there is no PC?  After all, the liquidity will only improve if more people join.
Report book April 4, 2013 4:05 PM BST
i think the liquidity is going up but not quickly enough,been ok this afternoon
Report 0%profit April 4, 2013 4:07 PM BST
i used to rave about betfair to my friends and know of at least 8 people who joined because of this now all i do is slag them off surely word of mouth has more power than any advert which people probably do not believe
Report rcing April 4, 2013 4:37 PM BST
No not really, as their are real companies underlying the gambling that goes on

there are also real companies/peoples jobs underlying the gambling that goes on here too .
Report finishingpost April 4, 2013 5:00 PM BST
rcing

Do you mean the owners,trainers,jockeys, stable lads etc?  That's a fair point but I didn't know BF paid a levy to the BHB. I thought that was one of the bookies' main gripes.

Anyway, what's your view on some of my questions, eg if the exchange works fine without PC why hasn't everyone flocked to the other site, not just recently but ages ago?  It should by rights be streets ahead by now.

As per loper's analogy, if there were two catering oulets on the high street and one of them was charging more for the same meal, you wouldn't argue why. It would just be a pointless waste of time.  You'd just go across the road to the other wouldn't you?
Report john92 April 4, 2013 5:23 PM BST
Nearly all PC payers will be big bettors or in running players who would not be able to get their bets matched elsewhere. There isn't enough liquidity. For there to be liquidity, the majority would need to move and the majority have no motive to move. A bit like chicken and egg.

Betfair know this. If this wasn't the case the PC wouldn't exist.

You mention if 'everything works fine', well things don't work fine but the PC does NOTHING to make change any of the underlying reasons why people lose money 'too quickly'... all it does is give Betfair a bigger cut of the action giving them less motivation to do anything about said underlying reasons.

As for this...

"As per loper's analogy, if there were two catering oulets on the high street and one of them was charging more for the same meal, you wouldn't argue why. It would just be a pointless waste of time.  You'd just go across the road to the other wouldn't you?"

You mention the same meal but some can't get served at the other catering outlet because they don't have enough food to feed everyone, so you have to stay where you are and pay more.

In other words, bets won't get matched elsewhere as there isn't enough liquidity.
Report rcing April 4, 2013 5:26 PM BST
betfair do pay levy .

john92 sums it up
Report finishingpost April 4, 2013 5:37 PM BST
john 92

Betfair didn't start off with in-running/API/trading platforms etc etc did it?  It started as a simple person to person, pre-race betting site, just like the other one.  Perhaps its problems have arisen because it drifted from those simple ideals, and through the 'innovations' a handful of very clever people discovered how to make a lot of money using some pretty sophisticated software along the way. And no, the other site won't as yet be able to accomodate them. I'm sure the 95% of losing punters on there won't be shedding any tears though.
Report john92 April 4, 2013 6:12 PM BST
I don't get the relevance of the last post. You asked why people hadn't moved and I answered. I didn't mention API or trading platforms.

The abilty to trade and play IR are USPs of Betfair compared to bookies though so it's a strange stick to hit them with.

I started paying the PC using the interface and betting using ATR. I've evolved a bit now though, with live video and the auto refresh app.

Not everyone has sophisticated software or 'innovations'. Some rely on work and skill. The auto refresh app has I admit made things slighlty easier and definitely spared me arthritis in that finger.
Report rcing April 4, 2013 6:20 PM BST
john , are you using gruss ?
Report john92 April 4, 2013 6:34 PM BST
I have gruss and have it running all the time but very rarely use it and almost never after the race has started. I use it to quickly put a bet on a frontrunner and for the horse notes. Once we go to beta I will need to try it more.
Report rcing April 4, 2013 6:37 PM BST
well , whatever works for you i guess . i could never bet in running using the betfair interface . fair play to you .
Report john92 April 4, 2013 6:50 PM BST
I like being able to quickly manipulate the odds and stake when laying off, which I find easier on the interface. Even with the custom columns it's hard to get a bet in the 'right' place in the queue more often than not. I find that anyway.

Plus even with a large monitor and minimising gruss, it's impossible (for me at least!) to fit the interface type bit, the custom columns and the live video all on the screen at the same time.
Report Apologist April 4, 2013 7:13 PM BST
Thinly veiled 'I am a transvestite. Is anybody else?' thread.

IMVHO
Report rcing April 4, 2013 7:30 PM BST
apologist be honest now, you didn't mean to write the words

" thinly veiled thread " in your post did you .Happy
Report PairOfSuitedAces April 4, 2013 8:12 PM BST
john92 I am able to do all that easily with 2 monitors - have you tried it?
Report Apologist April 4, 2013 8:23 PM BST
rcing

Happy
Report john92 April 4, 2013 8:24 PM BST
I'm sure I read here before it was possible with two monitors, but I've never tried it as I'm happy on the interface. If we end up on beta I'll be asking for advice on how to set it up!
Report 0%profit April 5, 2013 10:06 AM BST
surely even if betfair were to increase the £250k net profit ceiling each year instead of it being a life time amount then the smaller players would never pay the 40%-60% pc but would pay the 20% pc which although is extortianate would be barable imo not sure if that would workConfusedConfused
Report 0%profit April 5, 2013 11:26 AM BST
with regard to why don't people move over if it is so much better the other sideDevil the same could be said about gas/elec/banks or phone accounts people are lazy and the mentality of better the devilDevilyou know comes into play.a perfect chance to try the devil you don't know tomorrow with the daq's offer of 0% commission on all new and currrent acccounts for the national.must be worth a look imoConfused
Report sparrow October 27, 2020 6:31 PM GMT
Shocked
Report liberator of the oppressed October 27, 2020 6:42 PM GMT
Posts from Do Wah and Mr Hunt how we miss their integrity COVID has changed the world.
Report Rico-Dangleflaps October 27, 2020 9:08 PM GMT
hunt was nowt but a ****.
Report 11kv October 27, 2020 9:16 PM GMT
Hunty's rumoured to be working in Zodiacs Bar/Restaurant as a glass collector due to the downturn in free cash with the rapido piccys....Mischief
Report Rico-Dangleflaps October 27, 2020 10:13 PM GMT
Report smirnoff2therescue October 27, 2020 10:36 PM GMT
https://www.bing.com/videos/search?q=it+wasn%27t+me+youtube&view=detail&mid=...

GrinGrinGrin
Report dustybin October 28, 2020 7:09 AM GMT
The question should be; what happened to this ‘0% Profit’ person and countless others?
The short termist process of parking bf’s tanks on the lawns of individuals prepared to leverage risk with one another created an ever decreasing market place which in the end even the house can’t cover the cost of its own function.
Report dustybin October 28, 2020 7:12 AM GMT
To be clear, PC was an invention targeting the disparity of advantage in the IR markets, and implemented with the finesse of a hammer that resulted in a product you see today, threadbare liquidity.
Report portmanpark October 28, 2020 11:38 AM GMT
why cant other exchanges take advantage...none of these have PC charges
Report dustybin October 28, 2020 12:25 PM GMT
Probably the same as what countries do for large enterprise - sweetheart deals to market makers
Report SwallowsBarn October 28, 2020 12:31 PM GMT
I think you are wrong when you say other exchanges don't have PC. Purple have for nearly 12 months now.
Report Rico-Dangleflaps October 28, 2020 2:18 PM GMT
news to me.
Report Latalomne October 28, 2020 2:26 PM GMT
It's true.

Gin has mentioned it many times.
Report longbridge October 28, 2020 2:34 PM GMT
And don't Smarkets have a punitive commission rate for big winners?
Report Tiger Tiger October 28, 2020 2:43 PM GMT
**** don't have a PC but they do charge more commission to Commercial users and those who heavily use the API.
Report SwallowsBarn October 28, 2020 3:13 PM GMT
Purple have me on 5% fixed and this year I have paid over 60% commission over profit.
Report dustybin October 28, 2020 3:17 PM GMT
whats the IR like?
still like a crypt?
Report Latalomne October 28, 2020 3:18 PM GMT
Pretty sure Gin said he's on 10%!
Report DixiEnormus October 28, 2020 3:21 PM GMT
any1 been on the in-running on purple lately ?
Report SwallowsBarn October 28, 2020 3:40 PM GMT
If you are a layer its fine as the bots take your offers.
Report Rico-Dangleflaps October 28, 2020 3:48 PM GMT
won 10k+ since june 1st laying horses/dogs and place bets..no pc all 2%.

there is no ir on daq.
Report Latalomne October 28, 2020 4:09 PM GMT
Surely you'll be hearing from them when you hit the threshold (don't think they publicly say anywhere what that is).
Report SwallowsBarn October 28, 2020 4:36 PM GMT
They called me at the turn of the year and said I could like it or lump it. They initially offered me 6% and I said that it isn't worth betting with them, however after a little negotiation 5% was agreed.

Its not great but whats the alternative, earning 40% of something is better than 0% of nothing and the way I see it is that I would have to pay them 2% standard commission anyway.

I am not included in any of their Saturday offers or suchlike.
Report smirnoff2therescue October 29, 2020 2:01 AM GMT
pc was invented purely becos likes of otha companies thayt you cant mention jumped on board


threads on here yday just point that out - slybet for example but Joe and Laddy were at it yrs ago

Sadly the lads that had a grasp got mullered for otha companies jumping on this ones bandwagon= hence the merger wiv Paddy down the line


its a fact .........


whereva i lay my hat


this is a song for the girl who givs me sunshine on a cloudy day  WinkWinkLoveLove

https://www.youtube.com/watch?v=1BkGCkwJCWE
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